During Monday morning hours, the GBP/USD exchange rate touched the psychological level at 1.3200.
It is likely that some upside potential could prevail in the market, as the currency pair could gain support from the 55-hour moving average near 1.3120. The rate could face the resistance level—the weekly R1, located at 1.3270.
Meanwhile, it is unlikely that bears could prevail in the market, and the exchange rate could decline below the 1.2950/1.3000 range due to the support formed by the 200-hour SMA and the weekly S1.
